The Nicholas P. Pipino Memorial Foundation was founded by family, friends, and volunteers seeking to stop senseless acts of violence and also preserve their fond memories of Nick Pipino, a Drexel University student who was fatally stabbed outside Cavanaugh's Restaurant and Bar on December 19, 1992, where he worked part-time as a bartender while pursuing an undergraduate degree at Drexel.

In keeping with Nick's love for the outdoors, the foundation has organized the University City 5K Run since 1993 as a way to make something positive come out of Nick's untimely death. The foundation has also partnered with Drexel University creating scholarship opportunities which enable young individuals to obtain an education without the demands of part-time employment and allows the student to focus on his or her education. The relationship between Drexel and the Nicholas P. Pipino Memorial Foundation provides financial assistance and a quality education to enthusiastic students who are eager to meet the realistic demands of the professional world.